Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Rating of "Moderate Buy" from Analysts

Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$28.88.

A number of research analysts have commented on the company. Scotiabank boosted their price objective on Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Wednesday. Cormark upgraded Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a report on Monday, January 13th. Jefferies Financial Group lowered their target price on Converge Technology Solutions from C$145.00 to C$140.00 and set a "hold" rating for the company in a research note on Friday, March 7th. CIBC raised their price objective on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. Finally, Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a "hold" rating in a research report on Thursday, January 16th.

Converge Technology Solutions Stock Up 10.6 %

Shares of TSE:CTS traded up C$0.58 during midday trading on Friday, hitting C$6.05. 9,353,004 shares of the company's stock traded hands, compared to its average volume of 1,526,747. The firm's fifty day moving average price is C$4.98 and its two-hundred day moving average price is C$4.16. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The company has a market cap of C$1.14 billion, a PE ratio of -7.26, a P/E/G ratio of 0.14 and a beta of 1.81.

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About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.